Doing it Myself - Chapter 7, Creditor List

[OKlizzy]

I'm filing myself and am nearing completion!!! ( Sure can be confusing ) Hope someone can help me with these, I'm unable to figure out what they want.

1) If account has gone to collections, is the collection agency listed on the schedule as the creditor with reference to original creditor? Or is the original creditor always shown?


2) On property surrendered (repossessed) with balance due, should creditor be listed on Unsecured Nonpriority Claims?


And, can anyone tell me if someone is going to sue, are they required to give notice? In other words, is there a period allowing time to file bankruptcy before they can seize property? It have to go through court, right? Is whoever files the case first the one who gets protection/priority?

[Dawn1970]

I do know the answer to Question #1-
List the original creditor as well as the collection agency who harasses you over it. That way you be sure to cover your bases. The CA could be just hired by the original creditor to make collection efforts or they may have actually sold the account to them. Since you don't know, be on the safe side and list them both.

Sorry I have no idea about Question #2! Maybe by bumping this up somebody will read it and will know.

I do know that even if a creditor manages to sue you and gets a judgment against you, you can still include that judgement in your BK. What size and type of debts are we talking about and how far behind are they? That has a lot to do with it. Typically, most any creditor will do nothing but harass for a good 3-4 months before they'll begin any serious collection efforts like wage garnishment, etc. And if it's not a big account, they may just sell it to a collection agency and write it off.
Good luck to you, maybe someone else can answer your other question.

[Dam]

2) On property surrendered (repossessed) with balance due, should creditor be listed on Unsecured Nonpriority Claims?

Yes. If there's a balance due, they will have the right to come after it.

And, can anyone tell me if someone is going to sue, are they required to give notice? In other words, is there a period allowing time to file bankruptcy before they can seize property? It have to go through court, right? Is whoever files the case first the one who gets protection/priority?

If you're being sued, you'll receive a certified notice of the action and a date to appear in court. If you file bk, that stops all suits and judgement hearings until the bk is settled.

[edbroker]

reponse to question 1- creditor list

List your creditors on schedule F alphabetically.
Add a Schedule F "Appendix" attached to schedule F on a word document or something to list the collection agencies for each debt.
Include all Creditors and collections agencies on a "mailing Matrix" (a list).
Your local court may have a form you can download for free as a cover to your "Mailing Matrix".